Charity R¢gi8¢rndoll N(L 216594 LEICESTERSHIRE AND RUTLAND COUNTY NURSING ASSOCIATION TRUSTEES. REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 SOMERBYS LIMITED CHARTERED ACCOUNTAiYrs 30 NEISOIY STREET LEICESTER LEI 7BA LEICESTERSHIRE AND RUTLAND COUNTY NURSING ASSOCIATION LEGAL AND ADMINISTRATIVE INFORMATIOY4 Charity lumber 216594 Trnstees Mrs C M Wessel (Chair) Mrs J Pochin Mr D Knowles Mrs S Illsley {Appoint¢d 9 O¢tober 2023) J Wood (Appointed 9 (kiober 2023) Mr D Wood Mr D Surtees Mrs S Freeman Mrs S Fish Trea8ur¢r Mr E Cufflin Secretary Mrs R Cufflln Prineipal addre3S MeTCUry Place St George Street LeicesteT LEI I Aecountants Sornerby5 Limiied 30 Nelson Street Leicester LEI 7BA B*nkers Bank of Scotland PO Box 1000 BX2 ILB Inveytment Advisers Charl¢s Stanley & Co Mercury Place St George Street Leicester LEI 1 LE1cE￿ERSHlR￿ AND RUTLAND COUNTY NURSING ASSOCIATION CONTEiYrs Page TTustres' report In￿endent examiner's report Statement of financial activities Balance sket Noles to the accounts LEICESTERSHIRE AND RUTLAND COUNTY NUILSIIYG ASSOCIATION AI¥NUAL REPORT YEAR ENDED 31 MARCH 2024 Stru¢tur4 Gov¢rtt4n¢¢ and IVlanag¢ment The charity is regulated by a Scheme of the Charity Commissioners dated 5 February 1979 &5 amended by 5chernes dated 7 January 2(h)5 and l November 2013 and as amended by a Resolution dated 9 March 2005. Method ofappointmeni Ofin￿lee$ The 1979 Scheme provides for a maximwn of ten trnstees. The gmended Scheme furth¢T provides that the trustees shall be competent persons wh) through residence, Occupatio￿ or eJnployment have special knowledge of the counties of Leicestershir¢ and Rutland. Where there is a Tequirement for new trustees. these would be identified and appoinl¢d by the remaining trustees. Policies andprOCed￿e3I0r indM¢lion andtr￿ning ￿tr￿le*S The Chainnan of trustees is responsible for the indwtion of any new trustee. This training would in¢lude awareness of trustee resp)nsibililies, the goveming Schemes. administrative procedures, and th¢ history* philosophical and moral approach of the charity. In addiliofy at th¢ first few meetings attended by a new trustee, the Chairnian would give hin]/her ample opportunity for questions and explaitL agenda items more fijlly than usual. Organisalional slruclure and knw d&cisir)ns ar£ M£￿e The charity is composed of its tTU5tees. a secretary aThl a tsra8uTer; the two latter receive am]ual honordria. In addition, the charity takes investment advice from Charles Stanley, a firny of stockbrokers. D￿]SIonS are made by the trustees who. when necessary. take advi¢e from their stockbrokers. or out5id¢ agencies. RE5kfaclors The charity h¥ continued to examine the major strategic, business and operallon￿ risks which it faces. Wh¢n risks have been id¢ntifi¢d it has devised Ajxt implemented SY￿emS to mitigate any exposure. ObJedfves and Aetlvltles The Charity's objects are to provide aid to twsons ¢mployed in or fornerly employed in the nursing Profession in the Counties of Leicestershire and Rutland and who through age. ill healt￿ accident or infirmity are unable to maintain themselves, and also to provide relief to thos¢ ttrsons resident in the Counties of Lei¢estershire and Rutland who are si¢L wnvalescent. disabled, har￿]CaPPed or infirn). and who are not readily able io obrain support fTom other sources with a preference for persons employed or fornerly employed in the nursing profession. The policies adopted in furtheran¢¢ of these object5 were updated by the 2013 Scheme. Ptthlic benefii The trustee5 confiTm thal Ih¢y have referred to the guidance ¢ontained in the Charity Commission's general guidanc¢ on public benefit when reviewing the charity's aims and objectives aJ)d in platu)ing future activities and that they remain Committed to supporting foTmeT district nurses employed in the Counties of Lei¢eslershir¢ and Rutland and also those persons resident in Ih¢ area who require assistsncé as detailed more Ily above. LEICEsfERSHIRE AND RUTLAI¥D COUNTY NURSll¥G ASSOCIATION ANNUAL REPORT YEAR ENDED 31 MARCH 2024 Inveslmenlpolicy The tn￿tees. policy is to adopt an investment strategy consislent with securing agreed income and capital returns on the investrnent5. A¢hievem¢nts and Performance During the year the charity made donations and grants totalling £65,750 (2023 - £72,750). The tota] income for The year was £54.914 ¢ompared to £70,304 for the previous year. Free Reserves Policy It is the trustees, continuing atm io maintain free resetves at approxitnately Six months income. so as to ensure sutTi¢ienl ¢￿h flow for donations throughout the year and meet, if necessary* extraordinary granis. The trustees currently hold free reserves in excess of six months of expe¢l¢d income. The trustees will moniior the r¢serves on an annual basis in conjunction with ihe preparation of the Aftnual ReN)rt. Plllls for Future P¢rlods The trustees intend to ¢onlinue giving grants to those who fail within the provision sel oul by ihe Sch¢m¢s, and aim io incur as few eosts as possible, so thatthe mlxirnum amount possible may be given to those in need. Statement of Tru$¢ees' Reswsibilities Law appli¢abl¢ lo charities in England & Wak5 requires the tsuste¢s to prepare fin8n¢ial statements for each financial year which give a twe and fair view of the charity's financial activilies during the year of its financial posilion at the end of Ihey¢ar. In preparing financial sthiements giving a ttue and fair view, the trusfyes should follow best practice and: select suitable a¢¢ounting policies and then apply them consistently. make judgments and estimates that are reasonabl¢ and prudent; prepare the finan¢ia] statements on a going concern basis unless it is inappropriate to presume that the ch&rity will continue in operation. The trustees are responsible for keeping ace(Junting records which disclose with reasonable accuracy the fJnan¢ia] p)silion of the charity, and which enable them to ￿ertain the financia] position of th¢ charity and which enable them to ensure ihat the financial statements comply with the Charitie5 Act 2011. Th¢y are also responsible for safeguarding the ￿Sets of the charity and hence for tAk]ngrea￿nabje steps for the prevention and detection of fraud and other itTegularities. Onbe of ih¢ oard f tsusi Mrs C M Wessel Chair 16 O¢tober 2024 LEICESTERSHIRE AND RUTLAND COUNTY NURSING ASSOCIATION INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES YEAR ENDED 31 MARCH 2024 I report lo the Charity tnLSt¢¢s on my examination of the ac¢ounts of the ¢harity for the year ended 31 March 2024 whi¢h are set out on pages 4 to 8. Re5pDn5ibilities basis of report As the charity's Irustees you are resFrf>nsible for the preparation of the ac¢ounts in a¢cordance wilh the requirements of the Charities Ad 2011 ('the Act,). I report in respect of my examination of the chaTily's a¢¢ounts carrled out under section 145 of the Art and in canying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent examiner's s¢itemettt I have completed my e￿aMinatIOn. I confinn ttkat no m*erial marters have Come to my attentlOD in connection with the examination giving me cause lo believe that in any material respeci: accounting records were not kept in respect of the chariry as required by s¢clion 130 of the Act" or the accounts do not accord with those records. or the accounts do not comply with the applicable requirements Concerning the forni and content of accounts set out in the Charities (Ac¢ounts and Re[￿s) Regul￿1(￿ 2008 other than any requi)Ement that ihe accounts give & 'true and fair view. which is not a matter considered as part of an ind¢pend¢nt examination. I hav¢ no ¢oncerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper und¢t3tanding of the accounts to be reached. M W Dockerty (F Chartered A¢cowil 30 Ne]son Street Leicesier Dated.. 16 OGlober 2024 LEI 7BA LEICESTERSHIRE AND RUTLAND couNrY NURS]NG ASSOCIATION STATEME￿ OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Note 2024 2023 ID¢ome and endowments fn)m: Investment income 54,914 70.304 Total 54.914 70,304 Expenditsre on: Ch4rltsble a¢tivity GTants and donations payable Administration expenses 65,750 4.199 72,750 4200 Total 69,949 76.950 Net ¢xp¢nditure before investment yinsll(*se$ (15,035) (6.646) Galns on illvestments: Realised losses on disposa] of investments unrealis￿ gainsl(losses) on revaluation of investments Investment management costs (3.745) 31,733 (9.159) (44,034) (109,694) (9,268) Net IDcomel(ewndithre) 3.794 (169,642) balances ai l April 2023 1.317.422 1,487,064 Fund balallees at 31 March 2024 1.321,216 1,317,422 All of the above funds are unrestricted. LEICESTERSHIRE AND RUTLIND COUNTY NURSING ASSOCIATION BALANCE SHEET AS AT 31 MARCH 2024 Note 21J24 2023 Fixed as8ets Invesknents 1,288,825 1263,650 Current assets Cash & bank and in hand 33,747 55,128 Creditors: &moMnts fthlling dut thin one ye*r (1,356) 1.321.216 (1,356) 53,772 Net current assets 1321.216 1317422 Totsl a￿ets less curreni liabilities Fullds of tbe ¢h4rity Unrestricted funds 1.321.216 1.317,422 Approved by the Trustees on 16 October 2024 al￿ sI￿d on their behalf by.. Mrs C M Wessel Ch4Sr 16 October 2024 LEICESTERSHIRE AND RUTLAND COUNTY NUILSllYG ASSOCIATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 A¢¢oyntlng policies 1.1 B&s15 ofprep4r#tion The financia] statements have been prepared in accordance with the charity's gov¢rning document. the Charities Act 2011 and "A¢¢ounting and Reporting by Charities: Statement of R¢commended Practice applicable to ¢hariti¢s preparing their a¢¢ow)ts in accordance with the Financial Re￿rtIng Standard appli¢abl¢ in th¢ UK and Republic of Ireland (FRS102) (effeclive l January 2019)" The charity is a Pllbli¢ B¢n¢fit Entity &$ defined by FRSIO2. The charity has tsken advantage of the provisions in the SORP for charities apptying FRS 102 Update Bulletin I not to pr¢par¢ a Statement of Cash Flows. The financial siat¢m¢nts have departed from ihe Charities (A¢¢ounts and Reports) Regulations 2008 only to the extent requiwj lo provide a true and fair view. This departure has involved following the StaleTnent of Rewmmended Practice for ¢hariti¢s applying FRS 102 rather than the version of the Statement of Recommended Practice which is r¢f¢rred to in the Regulations but which has sirKe b¢¢n withdrawn. L¢ic¢stershiTe and Ru11a￿l County Nursing Association meets the definition of a public benefit entity under FRS 102 and is register¢d in England. The charity operates from Mercury Place. St George StreeL Leicesier, LEI l￿- The financial statements are prepaTed on a going concern basis und¢r the histori￿ cost conventio modified to include certaiD Items at fair value. The financial ststements are presented in sterling which is the functional cuffew of the charity. 1.2 Jncoming reyources All incoming resources are included in the SOFA when Ihe charity is legally entitled to the income and the amount can be quanlified with re&sonable accuracy. 1.3 Resource5 upeoded All expenditure is accounted for on an &￿ual$ basis and has been classifi￿ under h¢adings that aggregate all costs rela￿d to the ¢ategory. Where costs cannot k directly attributed to particular headings they have b¢en allocaled to activities on a basis consistent with use of the resources. 1.4 Investments Investments are stated at fair value at the bal8nce sheet date. The SOFA includes the net gains and loss¢s arising on revaluations and dis￿$ througknut the year. 1.5 Cash and Cgsh eq￿l¥alents Cash at bank and in hand are basic financial assets and include ￿sh in hand, deposits held at call with banks. other short-lern liquid investments with original malwities of three months or less, and bank overdrafts. Bank overdrafts are shown within bom)wings in current liabilitie& 1.6 Debtors •od ¢r¢dltorJ rtteivable I pa￿ble Tvithin one year Debtors and creditors with no staled interest rate and receivable or payabR¢ within one year ￿e recorded at tran￿tion price. Any loss¢s arising from imp&irnJent are recognised in expenditure. LEICESTERSHIRE AND RUTLAND COUNTY NURSING ASSOCIATION NOTES TO THE AccouNfs (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 1.7 Fwnds Gen¢Tal funds ￿e unrestricted funds which are available for use at the discretion of the tntstees in furtherance of the general obi¢¢tives of the charity and h&ve not been designated for other purposes. Jnvfstmeo¢ lllcome 2024 2023 Incom¢ fN)m listed investments 54.859 55 70.304 Jntere5t 54.914 70,304 Resources expended Charitable Activit 2024 Total 2024 2024 Grants payable Accountancy Honorarium Other 65.750 65.750 1,350 2,500 349 1.350 2,500 349 65.750 4.199 69,949 Grants and don4tioDs pyable 2024 2023 Charity Link- Grdnts for the needy ChaJity Link- Grant for administrative wses 53.750 12.0(X) 61,250 11,5 Total Grants 65.750 72.750 Total grants aTrJ donations 65.750 71750 Trustees During th¢ year the secrelary, Mrs R Cufflin. Ye¢eived an honorarium pa)rynenl of £1,500 (2023 - £1,500) and Mr E Cufflify the tre&surer, received an honorarium payment of £ 1.000 {2023 - £1,000). None of the tnL8te&8 received remunerdtion nor payments for expenses during the year. LEICESTERSHIRE AND RUTLAND COUNTY NURSING ASSOCIATION IYOTES TO THE ACCOUNTS (CONrtNUED) FOR THE YEAR ENDED 31 MARCH 2024 2024 Fixed asse¢ investments M￿k¢1 Yalue at l April 2023 Additions at cost Disposal proceeds Realised loss Change in value in the year 1,263,650 96,431 (9),243) (3.745) 31,733 Market value At31 March 2024 1288.826 H19torleal cos¢: At 31 March 2024 1213,206 At 31 March 2023 1240,682 Creditor8; 4mounts falling due within one ye4r 2024 2023 Accruals ,356 1,356 Ret*ted party trnnsaction The tre&8Utrr Mr E Cufflin is an employee of the investment ￿ViS0￿ Charles Stsnley & Co. During the year th¢ charity paid £9,159 (2023 - £9268) to Charl¢s Stanley & Co in res￿¢1 of investment services.